At Bancorp Lowers stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : At Bancorp reduced its stake in Magna International (USA) by 9.64% during the most recent quarter end. The investment management company now holds a total of 144,450 shares of Magna International (USA) which is valued at $5,931,117 after selling 15,413 shares in Magna International (USA) , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Magna International (USA) makes up approximately 0.84% of At Bancorp’s portfolio.

Other Hedge Funds, Including , Oakmont Corp reduced its stake in MGA by selling 468,850 shares or 50.47% in the most recent quarter. The Hedge Fund company now holds 460,100 shares of MGA which is valued at $18,500,621. Magna International (USA) makes up approx 3.38% of Oakmont Corp’s portfolio. Silver Capital Management added MGA to its portfolio by purchasing 12,700 company shares during the most recent quarter which is valued at $482,346. Magna International (USA) makes up approx 2.17% of Silver Capital Management’s portfolio.Cibc Asset Management Inc boosted its stake in MGA in the latest quarter, The investment management firm added 12,106 additional shares and now holds a total of 6,876,770 shares of Magna International (USA) which is valued at $261,179,725. Magna International (USA) makes up approx 1.92% of Cibc Asset Management Inc’s portfolio.Signaturefd boosted its stake in MGA in the latest quarter, The investment management firm added 26 additional shares and now holds a total of 924 shares of Magna International (USA) which is valued at $35,639. Magna International (USA) makes up approx 0.01% of Signaturefd’s portfolio.1st Global Advisors boosted its stake in MGA in the latest quarter, The investment management firm added 640 additional shares and now holds a total of 16,811 shares of Magna International (USA) which is valued at $653,780. Magna International (USA) makes up approx 0.09% of 1st Global Advisors’s portfolio.

Magna International (USA) opened for trading at $40.51 and hit $40.805 on the upside on Wednesday, eventually ending the session at $40.68, with a gain of 0.07% or 0.03 points. The heightened volatility saw the trading volume jump to 9,92,926 shares. Company has a market cap of $16,138 M.

On the company’s financial health, Magna International (USA) reported $1.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 5, 2016. Analyst had a consensus of $1.34. The company had revenue of $9443.00 million for the quarter, compared to analysts expectations of $9204.19 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS.

Many Wall Street Analysts have commented on Magna International (USA). Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $52 .

Magna International Inc. (Magna) is an automotive supplier with approximately 313 manufacturing operations and over 84 product development engineering and sales centers in approximately 28 countries. Its product capabilities include producing body chassis interior exterior seating powertrain electronic vision closure and roof systems and modules as well as vehicle engineering and contract manufacturing. Its customers include General Motors Fiat-Chrysler Ford BMW Daimler and Volkswagen. Its offers programs which include Ford Transit; MINI Countryman; Ford F-Series and F-Series Super Duty; QOROS 3; Ford Mustang; BMW X6; Mercedes-Benz M-Class; BMW X4 and Porsche Panamera. The Company operates in North America Europe and Asia.

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